NEWS NEWS
IDS Subsidiary Scintrex Limited Concludes Acquisition of Micro-g Solutions
Inc. - IDS strengthens geophysics market dominance through strategic
acquisition
Toronto, Ontario--
IDS Intelligent Detection Systems Inc. (TSE:ISD) announced today
that its subsidiary company, Scintrex Limited, has concluded its
acquisition of Micro-g Solutions Inc.
Micro-g Solutions is a Colorado-based geophysical instrument
company and the world's only commercial manufacturer of absolute
gravimeters for the geophysical research community and the oil
and gas industry. "Micro-g has a solid reputation for
excellence, high quality and innovation," said Dr. Mariusz Rybak,
chairman and CEO, IDS. "This company is committed to leading the
revolution already underway in the measurement of gravity by a
new generation of absolute gravity meters."
"Market acceptance of Micro-g products has increased and, because
they are the sole commercial manufacturer of absolute
gravimeters, we are confident the company can gain a
significantly larger share of the existing gravity
instrumentation business," said Rybak. "With the introduction of
a new portable absolute gravimeter, Micro-g will complement
Scintrex's existing line of gravimeters and its well established
sales and marketing channels to significantly increase its market
share in the years to come."
"Our acquisition of Micro-g Solutions Inc., and our recently
announced agreement with Val d'Or Sagax are part of IDS's
strategy to build critical mass in our geophysical business and
to gain economies of scale," said Dr. Rybak. "By capitalizing on
the marketing and distribution strengths of Scintrex, we will be
able to execute a strategy of select acquisitions and secure the
synergies that result."
The acquisition enables IDS to create efficiencies in marketing,
sales, and distribution for both Scintrex and Micro-g products
through a unified and extensive global network. The company will
also realize economies of scale in research and development. The
acquisition is part of a strategy to consolidate IDS's leading
position in the geophysics marketplace.
About IDS:
IDS is an innovative developer, manufacturer and marketer of
proprietary sensory technology and communication systems. The
company operates through eight business units: Analytical &
Security products and solutions, IDS Power Control Systems,
Scintrex Earth Science Instrumentation, Survey & Exploration
Technology Services, IEC (Integration, Engineering and
Consulting), ChemiCorp International and Caduceon Inc. Its more
than 70 products range from drug and explosive detectors to
nuclear safety control instruments, oil & gas exploration
instrumentation and services, and developing technologies for
industrial process control and point-of-care health analysis.
IDS's Internet initiative, GeoCommerce Inc., provides centralized
online trading and information marketplaces for the global
mining, exploration, and geophysics communities through:
www.MineOnline.com and www.GeophysicsOnline.com. IDS operates
worldwide in Canada, the US, France, UK, Australia and Brazil,
and is publicly traded on The Toronto Stock Exchange (symbol:
ISD).
IDS's website is located at www.idsdetection.com
For additional information please contact:
Media Inquiries
Peter McIntyre
IDS Intelligent Detection Systems
Telephone: (416) 214-6726
pmcintyre@hq.idsdetection.com
Investor Inquiries
Rick Conroy
Lexington
Telephone: (416) 588-1888
rick@lexington.ca
In the United States please contact:
Thomas Dean or Michael Block
Murdock Capital Partners
Telephone: (212) 421-2545
www.murdockcapital.com
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